Seven Eight Capital LP Purchases Shares of 34,800 GXO Logistics, Inc. (NYSE:GXO)

Seven Eight Capital LP acquired a new position in shares of GXO Logistics, Inc. (NYSE:GXO) in the first quarter, Holdings Channel reports. The institutional investor acquired 34,800 shares of the company’s stock, valued at approximately $1,871,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in GXO Logistics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 11,228,350 shares of the company’s stock valued at $603,636,000 after purchasing an additional 82,485 shares during the period. Clearbridge Investments LLC raised its stake in GXO Logistics by 2.6% during the fourth quarter. Clearbridge Investments LLC now owns 2,941,518 shares of the company’s stock worth $179,903,000 after buying an additional 75,712 shares during the last quarter. Fort Pitt Capital Group LLC raised its stake in GXO Logistics by 60.4% during the first quarter. Fort Pitt Capital Group LLC now owns 1,853,549 shares of the company’s stock worth $99,647,000 after buying an additional 698,180 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in GXO Logistics by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,134,844 shares of the company’s stock valued at $69,407,000 after buying an additional 21,454 shares during the period. Finally, Federated Hermes Inc. boosted its position in GXO Logistics by 3.0% during the fourth quarter. Federated Hermes Inc. now owns 1,126,959 shares of the company’s stock valued at $68,925,000 after acquiring an additional 33,320 shares during the last quarter. 90.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GXO Logistics

In other news, CEO Malcolm Wilson bought 10,000 shares of GXO Logistics stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $49.95 per share, for a total transaction of $499,500.00. Following the purchase, the chief executive officer now directly owns 100,814 shares in the company, valued at approximately $5,035,659.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is owned by insiders.

GXO Logistics Stock Down 0.7 %

Shares of NYSE GXO traded down $0.36 during mid-day trading on Tuesday, reaching $54.19. 615,831 shares of the company’s stock traded hands, compared to its average volume of 860,666. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day simple moving average of $50.49 and a 200 day simple moving average of $51.99. The stock has a market cap of $6.47 billion, a P/E ratio of 38.99, a PEG ratio of 1.62 and a beta of 1.60. GXO Logistics, Inc. has a 1-year low of $46.38 and a 1-year high of $67.36.

GXO Logistics (NYSE:GXO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. GXO Logistics had a net margin of 1.68% and a return on equity of 10.60%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, analysts expect that GXO Logistics, Inc. will post 2.78 EPS for the current fiscal year.

Analysts Set New Price Targets

GXO has been the subject of several research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of GXO Logistics in a research report on Wednesday, May 15th. Morgan Stanley reiterated an “overweight” rating and issued a $70.00 target price on shares of GXO Logistics in a report on Tuesday, May 14th. TD Cowen increased their price target on GXO Logistics from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. BNP Paribas upgraded shares of GXO Logistics from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of GXO Logistics from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.00.

About GXO Logistics

GXO Logistics, Inc, together with its subsidiaries, provides logistics services worldwide. The company provides warehousing and distribution, order fulfilment, e-commerce, reverse logistics, and other supply chain services. As of December 31, 2023, it operated in approximately 974 facilities. The company serves various customers in the e-commerce, omnichannel retail, technology and consumer electronics, food and beverage, industrial and manufacturing, consumer packaged goods, and others.